Finance Income and Expenses – Interest for Present Value of Financial Assets or Liabilities

12 Months Ended

Dec. 31, 2022

Finance Income Cost Text Block [Abstract]

Finance Income and Expenses – Interest for Present Value of Financial Assets or Liabilities

26. Finance Income and Expenses – Interest for Present Value of Financial Assets or Liabilities

A. Finance Income and Expenses

For the years ended December 31, these items include the following:

In thousands of soles	2020		2021		2022
Financial income:
Interest on short-term bank deposits		2,353		959		12,894
Business interests		191		438		856
Interest on loans to third parties		863		442		127
Others		3,175		807		1,577
		6,582		2,646		15,454

	2020		2021		2022
Financial expenses:
Interest expense on:
- Bank loans		58,548		55,290		64,010
- Bonds		26,771		36,830		34,844
- Loans from third parties		12,612		12,642		6,345
- Financial lease right-of-use		4,259		3,982		4,505
- Financial lease		1,187		862		474
Commissions and collaterals		28,083		23,034		22,389
Interest from Tax Administration		4,827		14,236		16,326
Exchange difference loss, net		3,766		47,211		269
Factoring expenses		722		93		1,973
Other financial expenses		1,028		2,235		5,339
		141,803		196,415		156,474

B. Interests for present value of financial assets or liabilities

In thousands of soles	2020			2021			2022
Interest income for present value of financial asset or liability (a)		32,734			3,127			13,299
Interest expenses for present value of financial asset or liability (b)		(4,552	)		(66,159	)		(99,313	)
		28,182			(63,032	)		(86,014	)

a. In 2022, corresponds mainly to the adjustment of the account receivable of the subsidiary Viva Negocio Inmobiliario S.A. for the present value of the receivable from the Ministry of Housing, Construction and Sanitation of the Ancon Project for S/8 million at a discount rate of 7.99%. (S/ 1.7 million at a discount rate of 8% as of December 31, 2021). In 2020 corresponds to the present value adjustment of the account receivable from Gasoducto Sur Peruano S.A. for S/22.9 million, due to the variation in the discount rate applied, which decreased from 2.48% to 1.65% in 2020.

b. Mainly correspond to:

(i) Adjustment to the present value of the account receivable from Gasoducto Sur Peruano S.A. for S/72.2 million, due to the variation in the discount rate applied, which increased from 2.73% to 5.86% (S/32.8 million due to an increase in the rate from 1.65% to 2.73% as of December 31, 2021).

(ii) Adjustment to the fair value of the BCI loan in Inversiones en Autopistas S.A. for S/16.6 million due to the variation of the discount rate applied, which increased from 8.39% to 9.97% (S/12.4 million for rate increase from 6.45% to 8.39% as of December 31, 2021).

(iii) Present value of the account receivable from Inversiones Majes S.A. in Viva Negocio Inmobiliario S.A. for S/5 million at an applied discount rate of 8%.